Booz Allen Wins Award for Advancing Innovation

Firm recognized for dispelling the myth that spending more money on R&D is the key to innovation.

In recognition of the firm's Global Innovation 1000 study, Innovate Forum presented Booz Allen Hamilton with a Special Achievement Award for Advancing Innovation. Honored alongside other innovators such as Google, Steve Jobs, and Whirlpool, Booz Allen was recognized for its efforts in dispelling the myth that spending more money is the key to innovation and for pioneering the term “high-leverage innovators.”

“Innovate Forum is pleased to honor these innovative companies and individuals,” says Lester Craft, Editor in Chief of Innovate Forum. “We believe the time has come to view innovation as a critical business discipline.”

Booz Allen Vice President Barry Jaruzelski, one of the study’s authors, says it is “gratifying that we are being recognized in changing the dialogue on the role of research and development (R&D) in driving corporate performance.”

Booz Allen is now in its second year of studying the 1,000 global companies that spend the most on R&D. The study found that although R&D spending of these 1,000 companies rose last year by more than US$20 billion, money simply can’t buy effective innovation. A group of 94 “high-leverage innovators,” including Toyota, Apple, Christian Dior, Google, and Caterpillar spend less than their competitors on R&D, yet consistently outperform their industry rivals across a broad set of performance measures.

Booz Allen Vice President Kevin Dehoff, “Booz Allen's Global Innovation 1000 is recognized as the definitive study on R&D performance, and it has helped us carve out a distinctive positioning in the market for Innovation Strategy & Technology consulting services.”

Read the entire Global Innovation 1000 study.

story posted February 9, 2007